NY-NORSK-TITANIUM

Norsk Titanium AS , the world’s first FAA approved supplier of aerospace-grade, additive manufactured, structural titanium components, announced it has finalized a definitive purchase agreement for 12 of its Rapid Plasma Deposition™ (RPD™) Merke-IV™ machines with Fort Schuyler Management Corporation and Empire State Development for use in its Plattsburgh production center. This purchase agreement brings the total firm back-log and delivered machines for use in Plattsburgh, New York to 32 Merke-IV™ machines.

This agreement, signed 31 May 2017, is incremental to the 20-machine order announced last year. Machines from that order are currently being delivered throughout 2017. This new order will begin delivery in mid-2018 to Norsk Titanium’s Plattsburgh, New York production facilities. Each of these leading-edge machines is capable of producing up to 20 tons of printed material per year, with significantly less waste and machining energy, allowing for a cost savings of more than 30% over legacy forging and billet production techniques.

“Norsk Titanium’s new production and development facilities will bolster the North Country’s advanced manufacturing sector and the increasing demand for their products is great news for the local economy,” said Empire State Development President, CEO & Commissioner Howard Zemsky. “Norsk continues to meet or exceed their commitments to the State and we look forward to their continued growth in Upstate New York.”

Norsk Titanium’s choice to locate their first U.S. facility in the Plattsburgh region was due to its excellent transportation infrastructure, availability of a skilled and capable labor force, and the proximity to the large aerospace supply-chain community in the state and region.

“Plattsburgh New York has been ideal for us,” said Warren M. Boley, President and CEO of Norsk Titanium. “The State of New York has been a tremendous business partner and our growth in Plattsburgh is a testament to the value and opportunity that the game-changing Rapid Plasma Deposition™ (RPD™) technology delivers to customers.”

About Norsk Titanium AS

Norsk Titanium AS is the world’s pioneering supplier of aerospace-grade, additive manufactured, structural titanium components. The company is distinguished in the aviation industry by its patented Rapid Plasma Deposition™ (RPD™) process that transforms titanium wire into complex components suitable for structural and safety-critical applications. Norsk Titanium is a tier-1 supplier to Boeing and is committed to cost-reducing aerostructures and jet engines for the world’s premier aerospace manufacturers. RPD™ is the world’s first FAA-approved, 3D-printed, structural titanium, delivering substantial lead-time and cost savings for aerospace, defense, and commercial customers. www.norsktitanium.com

About Empire State Development

Empire State Development (ESD) is New York’s chief economic development agency (www.esd.ny.gov ). The mission of ESD is to promote a vigorous and growing economy, encourage the creation of new job and economic opportunities, increase revenues to the State and its municipalities, and achieve stable and diversified local economies. Through the use of loans, grants, tax credits and other forms of financial assistance, ESD strives to enhance private business investment and growth to spur job creation and support prosperous communities across New York State. ESD is also the primary administrative agency overseeing Governor Cuomo’s Regional Economic Development Councils and the marketing of “I LOVE NEW YORK,” the State’s iconic tourism brand. For more information on Regional Councils and Empire State Development, visit www.regionalcouncils.ny.gov and www.esd.ny.gov .

View source version on businesswire.com: http://www.businesswire.com/news/home/20170618005100/en/

Contact:

Media Contact:
Griffin Communications Group
George Torres, 310-947-0982
media@norsktitanium.com
or
NY Media Contact:
Jason Conwall, 518-292-5107
Jason.conwall@esd.ny.gov

Link:

ClickThru